One Asia Fund Is Out, Another Is In

摘要

THE TIME YOU READ THIS, a mutual fund that was in the Kiplinger 25 for just over a year, MATTHEWS ASIA DIVIDEND (SYMBOL MAPIX), will have closed to most new investors. As is our custom, we are removing the fund, which returned 28.1% over the past year, from the Kip 25. Luckily, we didn't have to go too far to find a worthy alternative: MATTHEWS ASIAN GROWTH AND INCOME (MACSX). Growth and Income has a more conservative mandate than the fund it replaces. Unlike Asia Dividend, which has nearly all of its assets in dividend-paying common stocks, Growth and Income invests in a mix of common stocks (83% of assets at last report), convertible bonds (11%) and preferred stocks (3%). Convertibles are hybrid securities that let you convert your holdings into the common stock of the issuing company at a preset price.